Russian rouble continues to weaken!

By Callum HolmesDecember 1st, 2014

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The Canadian economy grew at a faster rate than economists had initially forecast in the third quarter of the year as exports of crude oil grew. However, Friday saw the release of Canadian growth figures. Statistics Canada stated that the country’s gross domestic product rose 0.4% in September, in line with initial expectations and a rise on the previous month’s 0.1% contraction. The Canadian dollar remained lower following the report, trading over 0.5% down against its US counterpart.

The last six months have been a disaster for the Russian rouble but Friday saw it continue to tumble and clock up what has been its worst month in over five years. It is not just the slump in oil that is affecting the Russian currency, as stocks fell with bonds while credit risk climbed to a three-year high.

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